Webull Sees Sliver of Hope in Crypto Business as Revenue Hits Record High

Webull's second-quarter revenue has hit a record high of $198 million, representing a 51% year-over-year increase. Cryptocurrency trading accounted for only 1% of this total, generating $2.25 million in income.

The majority of Webull's quarterly revenue came from equity and options trading, which generated $112 million, or approximately 56% of the total.

In a call with investors, Anthony Michael Denier, president and director of Webull, expressed optimism about the company's crypto business. He stated that he was 'starting to see the clouds start to part' in the industry.